Torray Investment Partners LLC Trims Holdings in Veeva Systems Inc. $VEEV

Torray Investment Partners LLC cut its stake in Veeva Systems Inc. (NYSE:VEEV) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,889 shares of the technology company’s stock after selling 1,623 shares during the quarter. Torray Investment Partners LLC’s holdings in Veeva Systems were worth $7,743,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new position in Veeva Systems during the first quarter worth about $299,000. Private Trust Co. NA grew its position in Veeva Systems by 35.0% during the first quarter. Private Trust Co. NA now owns 247 shares of the technology company’s stock worth $57,000 after buying an additional 64 shares in the last quarter. Merit Financial Group LLC grew its position in Veeva Systems by 12.5% during the second quarter. Merit Financial Group LLC now owns 45,247 shares of the technology company’s stock worth $13,030,000 after buying an additional 5,042 shares in the last quarter. QRG Capital Management Inc. grew its position in Veeva Systems by 15.7% during the second quarter. QRG Capital Management Inc. now owns 12,771 shares of the technology company’s stock worth $3,678,000 after buying an additional 1,735 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Veeva Systems by 9.3% during the second quarter. Nordea Investment Management AB now owns 391,273 shares of the technology company’s stock worth $110,832,000 after buying an additional 33,378 shares in the last quarter. 88.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on VEEV. Piper Sandler upped their price objective on Veeva Systems from $325.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Canaccord Genuity Group upped their price objective on Veeva Systems from $270.00 to $300.00 and gave the stock a “hold” rating in a report on Thursday, August 28th. Wall Street Zen raised Veeva Systems from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. UBS Group upped their price target on Veeva Systems from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, August 28th. Finally, Evercore ISI increased their target price on Veeva Systems from $285.00 to $295.00 and gave the stock an “in-line” rating in a research report on Thursday, August 28th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Veeva Systems currently has a consensus rating of “Moderate Buy” and an average price target of $307.58.

Veeva Systems Stock Performance

NYSE:VEEV opened at $291.20 on Monday. Veeva Systems Inc. has a one year low of $201.54 and a one year high of $310.50. The firm has a market cap of $47.73 billion, a price-to-earnings ratio of 59.80, a PEG ratio of 2.22 and a beta of 0.98. The firm’s fifty day moving average is $285.22 and its two-hundred day moving average is $272.91.

Veeva Systems (NYSE:VEEV) last released its quarterly earnings data on Wednesday, August 27th. The technology company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.64). The business had revenue of $789.08 million during the quarter, compared to analyst estimates of $768.49 million. Veeva Systems had a net margin of 27.29% and a return on equity of 13.72%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 EPS. Veeva Systems has set its Q3 2026 guidance at 1.940-1.950 EPS. FY 2026 guidance at 7.780-7.780 EPS. As a group, equities research analysts predict that Veeva Systems Inc. will post 4.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Thomas D. Schwenger sold 3,350 shares of Veeva Systems stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $300.04, for a total transaction of $1,005,134.00. Following the sale, the insider directly owned 23,773 shares in the company, valued at $7,132,850.92. This trade represents a 12.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eleni Nitsa Zuppas sold 6,000 shares of Veeva Systems stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $306.62, for a total transaction of $1,839,720.00. Following the sale, the insider owned 25,325 shares in the company, valued at $7,765,151.50. This represents a 19.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,665 shares of company stock worth $7,438,000 in the last ninety days. 10.30% of the stock is owned by corporate insiders.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.